The Asia Pacific Butter Powder Market would witness market growth of 6.0% CAGR during the forecast period (2023-2030).In the year 2021, the Asia Pacific market's volume surged to 59.3 Kilo Tonnes, showcasing a growth of 5.2% (2019-2022).
There has been a surge in the number of food industry applications on a large scale, as they provide numerous benefits to food industry enterprises. It is straightforward to incorporate butter powder into a variety of culinary applications. In addition, bakeries add this to bread, cakes, biscuits, muffins, and other baked products to enhance their flavor. It enhances the moisture and content of baked goods, imparts a buttery flavor, and is used to make items of the highest quality. Confectionery enhances flavor and creates a silky, creamy texture in candies, chocolates, caramels, ready-to-eat meals, munchies, condiments, and soups.
Changes in the cost of basic materials immediately impact manufacturers of butter powder. In addition, a rise in the price of milk or milk fat raises the overall cost of producing butter powder. Even though its popularity has increased, it still lags behind other products. In the creation of substitutes for it, there is intense competition. Furthermore, spreads derived from vegetable oils and lipids, such as margarine, provide consumers with a lower fat content and a healthier alternative to butter powder. Since dietary trends and consumer preferences impact the market for such substitutes, butter powder manufacturers must intelligently differentiate their products.
The Asia-Pacific region is diverse, with countries at various stages of economic development, differing culinary traditions, and varying consumer habits. Asia has seen a significant surge in the demand for processed foods, driven by urbanization, a growing middle class, and changing lifestyles. Its ease of use, storage advantages, and consistency can make it a desirable ingredient for regional food manufacturers. Due to its consistent taste and extended shelf life, the ease of using it in manufacturing these foods makes it a good fit for this sector. These developments will considerably support the growth of the regional market throughout the forecast period.
The China market dominated the Asia Pacific Butter Powder Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $258.1 million by 2030. The Japan market is anticipated to grow at a CAGR of 5.3% during (2023 - 2030). Additionally, The India market would register a CAGR of 6.6% during (2023 - 2030).
Based on Source, the market is segmented into Milk, Peanut, Almond, Cocoa and Others. Based on Distribution Channel, the market is segmented into Supermarket/Hypermarket, B2B, Convenience Stores, Online Retail and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Butter Powder Market is Projected to reach USD 3.3 Billion by 2030, at a CAGR of 5.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Nutrient Survival, Betty Lou's Inc., Garden of Life, LLC (Nestle S.A), Kanegrade Ltd., PB2 Foods, Inc. (Bell Plantation Inc.), Z Natural Foods LLC, Powbab, Inc., Nutricost (ESUPPLEMENTS, LLC), and BetterBody Foods, and Hoosier Hill Farm LLC (Saco Foods)
By Source (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
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